Saudi Arabia’s economic diversification strategy has reached a major milestone, with non-oil activities now accounting for 56 percent of the Kingdom’s gross domestic product. This key finding was presented during an official meeting of the Council of Economic and Development Affairs (CEDA), one of the Kingdom’s most influential decision-making bodies. Chaired by the Crown Prince and attended by ministers and high-level strategic decision-makers, the Council reviewed a series of reports via video conference that confirm the nation’s economic resilience and the steady progress of the Vision 2030 agenda.
The council examined a periodic report from the Ministry of Economy and Planning, which highlighted sustained private-sector growth and a strong recovery in non-oil sectors. This officially confirms that the private, non-oil economy is now the primary driver of the Kingdom’s growth—a core objective of its national transformation plan. The report also assessed the global economic outlook and ongoing external challenges, underscoring the resilience of the Saudi economy in a complex international environment.
The meeting showcased broad-based progress across the Kingdom’s strategic goals. A quarterly update from the Strategic Management Office on Vision 2030 programs demonstrated “steady progress” across the Vision’s three pillars: a vibrant society, a thriving economy, and an ambitious nation. Further reports from the National Center for Performance Measurement (Adaa) outlined successful efforts to empower government agencies in achieving their targets and noted high beneficiary satisfaction with public services.
Presentations also highlighted the development of specific high-growth sectors, including a detailed review of the burgeoning halal industry and updates from the National Center for Privatization and PPP and the Digital Content Council. This focus on nurturing new economic ecosystems signals clear opportunities for specialized international businesses and investors.
These high-level economic reports confirm the Kingdom’s strong trajectory and the success of its diversification strategy. For international businesses, the challenge is translating this macroeconomic data into a targeted market entry plan. Haris Consultancy specializes in this process, helping companies identify their specific opportunities within the framework of Vision 2030 and turning macro trends into concrete commercial success. Contact us to transform data into your next strategic decision.
